It's the same but lesser in many ways to the Optimus.
No LTE, no micro SD slot-
Price is about the same. $100, $325 ETF or keep the contract for a few months and the phone is less than $400.
The only thing you're not getting right now is the official JB.
The Nexus really doesn't seem to be such a good deal at nearly $400 with tax and shipping.
Keeping a phone on an expensive contract plan a few months longer for the ETF fee to go down doesn't make the phone cost less. Because every month you are paying more towards the phone by being on the contract in the first place, it's how those plans work.
And the Optimus G is listed at $200 by the carriers. If you buy it at $100 from Amazon, then I believe you have to pay Amazon's $250 ETF ontop of the carriers $325 ETF.
Plus there are usually other fees and taxes involved in signing up with a contract plan.
No, I don't think the Optimus G would even remotely end up being as nice of a deal as the Nexus 4.